Clean Harbors Announces Acquisition of Evergreen Oil

Company Acquires One of California’s Largest Waste Oil Collectors and
Environmental Services Operator with Only Re-refinery in the State

September 16, 2013 08:30 AM Eastern Daylight Time

NORWELL, Mass.--(BUSINESS WIRE)--Clean
Harbors, Inc. (“Clean Harbors”) (NYSE:CLH), the leading provider of
environmental, energy and industrial services throughout North America,today announced that it has acquired Evergreen Oil, Inc. out of
bankruptcy through the U.S. Bankruptcy Court for the Central District of
California. Evergreen Oil is a California-based environmental services
company that is one of the state’s largest collectors of waste oil and
runs the only re-refinery in the state. Clean Harbors is funding the $60
million transaction through available cash on its balance sheet.

The acquisition of Evergreen Oil is beneficial to Clean Harbors on a
number of fronts:

expands Clean Harbors’ geographic footprint in re-refining to include
coverage in the Western U.S. – complementing its Indiana facility in
the Midwest and Breslau facility in Eastern Canada;

provides Clean Harbors with the second-largest collector of waste oil
in California; and

provides Clean Harbors with a number of valuable ancillary waste
assets, including a permitted Treatment, Storage and Disposal Facility
(TSDF).

“Our acquisition of Evergreen aligns well with our Safety-Kleen
re-refinery and environmental businesses, and creates multiple
opportunities for profitable growth,” said Alan S. McKim, Chairman and
Chief Executive Officer. “California is an attractive market for us, and
Evergreen has a strong presence in the state. Given the financial
incentives available in California and that used oil is designated as
hazardous, the addition of Evergreen will contribute to Safety-Kleen’s
ongoing initiative to lower its pay-for-oil (PFO) costs.”

“We believe that we are purchasing this asset at a favorable price for
our shareholders,” McKim said. “While we plan to invest some capital
into the re-refinery to enhance its layout and productivity, the plant
is relatively new, with major portions of it having been rebuilt
following a fire at the facility in 2011. In addition to the
re-refinery, the purchase includes rolling stock and equipment, a
diverse roster of West Coast customer accounts, an ancillary hazardous
waste business and a TSDF in Carson, California – a state where
stringent permitting requirements create barriers to entry.”

“We are excited about the overall potential for the Evergreen assets.
Given our acquisition expertise and track record, we are confident that
our integration teams can realize substantial upside potential from our
combined company. We look forward to welcoming Evergreen’s employees
into the Clean Harbors and Safety-Kleen family,” McKim concluded.

About Clean Harbors

Clean
Harbors (NYSE:CLH) is the leading provider of environmental, energy
and industrial services throughout North America. The Company serves a
diverse customer base, including a majority of the Fortune 500
companies, thousands of smaller private entities and numerous federal,
state, provincial and local governmental agencies. Through its
Safety-Kleen subsidiary, Clean Harbors also is a premier provider of
used oil recycling and re-refining, parts washers and environmental
services for the small quantity generator market.

Headquartered in Massachusetts, Clean Harbors has waste disposal
facilities and service locations throughout the United States and
Canada, as well as Mexico and Puerto Rico. For more information, visit www.cleanharbors.com.

Safe Harbor Statement

Any statements contained herein that are not historical facts are
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995. These forward-looking statements are
generally identifiable by use of the words “believes,” “expects,”
“intends,” “anticipates,” “plans to,” “estimates,” “projects,” or
similar expressions. Such statements may include, but are not limited
to, statements about the benefits of the acquisition of Evergreen and
other statements that are not historical facts. Such statements are
based upon the beliefs and expectations of Clean Harbors’ management as
of this date only and are subject to certain risks and uncertainties
that could cause actual results to differ materially, including, without
limitation, those items identified as “risk factors” in Clean Harbors’
most recently filed Form 10-K and Form 10-Q. Therefore, readers are
cautioned not to place undue reliance on these forward-looking
statements. Clean Harbors undertakes no obligation to revise or publicly
release the results of any revision to these forward-looking statements
other than through its filings with the Securities and Exchange
Commission, which may be viewed in the “Investors” section of Clean
Harbors’ website at www.cleanharbors.com.